Lord & Taylor is exploring filing for bankruptcy protection after it was forced to temporarily shut all of its 38 U.S. department stores in the wake of the coronavirus outbreak, sources said on Monday.
As the Canadian retailer announced that it has completed its privatization transaction, it was also revealed that CEO Helena Foulkes will be stepping down, to be replaced by executive chairman Richard Baker.
BlackRock’s Long Term Private Capital fund, alongside Spanish businessman Javier Ferrán, has become the main shareholder of Creed, one of the world’s most ancient independent perfume labels, founded in the UK in 1760.
Three leading proxy advisory firms have recommended that HBC shareholders vote in favour of the deal that would see a group led by the company’s executive chairman, Richard Baker, take the retailer private.
Saks Fifth Avenue owner Hudson’s Bay Co has agreed with a group of shareholders to be taken private in a deal under which the company will buy stocks held by certain minority stakeholders for C$11 apiece in cash.